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Chinese regulator approves IPO of Beijing-Shanghai railway operator


Chinese securities regulators have approved the Shanghai listing plan of the operator of the Beijing-Shanghai high speed railway, as its debt-ridden parent China Railway Group Ltd. (CR) looks to raise money from one of its few profitable lines.

The China Securities Regulatory Commission on Thursday announced the decision on Friday in a statement on its website.

The company plans to offer 15 per cent of its total shares and use the proceeds to . . .

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